Well now we see the legitimate, oft-heard conservative argument that the government shouldn't be picking winners and losers in the economy. So here we have the Solyndra of the state of Rhode Island, but since it's a notable conservative athlete rather than solar energy, I doubt we'll hear much criticism from the Right.
By the way, I should note that although Schilling is an outspoken Republican, as an athlete he remains a favorite of mine. He's a blowhard, but I like that he says what's on his mind. He may not, however, be much of a businessman- most ex-jocks typically aren't. It's not like he had years of learning how to run a business after all- he was busy playing baseball.
Then again, maybe he's not such a bad businessman after all by the standards of our day and age. He used corporate welfare to grow his business at the expense of taxpayers. He probably didn't lose much of his own money in the venture, and for all I know he may have come out ahead. Like Mitt Romney a little- not very productive for society, but he made himself plenty of cash.
I can’t help but comment on the unfolding 38 Studios debacle. There’s plenty of blame to go around, notably with the R.I. government officials who approved the loan guarantees. Their behavior is not all that surprising, it is government, and Rhode Island, no less.
ReplyDeleteBut I have to reserve particular scorn for Ol’ Curt, who is now exposed as yet another so-called Conservative hypocrite and liar. He’s been going around preaching his political philosophies about smaller government, but yet, had no problem suckling on the public teat for his own benefit. He also told Reuters that he was going to invest $30-35 million of his own money into the company. In fact, he only invested $4 million, and made sure to pay himself back right away out of the funds that the state provided. What an ass-clown! Just add him to the list of self-righteous so-called Conservative buffoons in the “Do as I say, not as I do” category. At least in hindsight, his perceived screwing over of his own home state actually did us a favor. Unfortunately, now it looks like the RI taxpayers will have to pony up.
Anyway, even if his company goes belly up, all is not lost for Curt. I understand that there are some very good job openings at J.P. Morgan.